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Note: Regions Bank (Issuer) sued Ralph Glendinning for a declaratory judgment ruling that it was not liable on an LC issued by its predecessor, Union Planters Bank, N.A. While the decision does not expressly so state, it appears that Glendinning was the beneficiary to the LC.

Issuer moved to stay the proceeding pending the outcome of the litigation in the Bahamasrelated to a separate underlying agreement for the sale of property. The trial court denied the motion. On appeal, the Court of Appeal of Florida, Fourth District, Gunter, Polen, & Gross, JJ., in a per curiam opinion affirmed.

Noting that Issuer had a heavy burden to challenge the broad discretion accorded to a trial court with respect to relief, the court observed that Issuer was not a party to the Bahamian action and observed that "[t]he issues regarding the letter of credit are largely independent of the underlying but separate agreement for the sale of the Bahamas property.", citing cases and Florida's version of Revised UCC Section 5-102(4) (Definitions) ("'Confirmer' means a nominated person who undertakes, at the request or with the consent of the issuer, to honor a presentation under a letter of credit issued by another.")

[JEB/zrb]

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